Thoughts on Coatue?
Everyone knows Coatue is one of the best funds out there, but I was wondering if anyone could share some specifics. How does Coatue stack up against other tiger cubs in terms of culture (which I heard is not the greatest), comp, progression, and performance? Does Coatue only do L/S out of their NYC office and VC in their SF office, or is this false/do they do L/S and VC in both offices? If anyone's wondering, I am an incoming analyst in MF PE.
anyone?
Bump
My friend works in SF and likes it
In VC arm?
Do you have any insight into whether or not Coatue does L/S and VC in their SF office, or if L/S is strictly NYC and VC is SF?
Yeah I'm not sure how many of us were wondering but thanks for telling us anyways.
Should’ve seen this dudes other post, titled “young gun on the golden path”
Coatue is very legit. As a TigerCub it’s a notch below Tiger Global and Lone Pine. But that’s sort of like saying as a pussy slayer, he’s a notch below Leo. Not exactly a damning indictment.
Analysts there hate their lives. It’s very high pressure. You’re expected to pitch a new idea ~2 weeks. Phillip is known to be a dick and a highly combustible one at that.
Unlike PE, there’s no one to hide behind. Each and every person is in the line of fire.
They pay extremely well. As a middle of the road analyst you’ll make $1mm pretty quickly. To a PE Associate that seems like an unthinkable sum, but it’s not. There’s limited utility to being a supporting actor in the HF business. If you want to make real money at ANY age/level, you need to be the guy with the idea and the one executing it and deciding what to do.
A great many Coatue analysts, after having lived it, decided it’s not worth it and end up leaving. Some get fired. There’s high turnover. They are nice to you on your way out the door. Ie give you some cover to find your next job.
They interview just about any top MF associate who is interested. But don’t think that makes it an easy job to get. When I was an associate in MF PE anyone that wanted a Coatue interview could get one, so people vastly underestimated the value of the opportunity. Just because they interview all of your peers, doesn’t mean it’s an easy job to get, or to excel at. It’s a great seat if you love public market investing.
You should understand that it’s a long established firm. Every sector that is worth covering is exceptionally well covered. The idea generation pressure is mostly on the short side, since that’s where you can find some off the beaten path idea.
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SF office is entirely private markets. NY office is mostly public markets, with some of the HF analysts doing crossover into growth/pre-IPO when appropriate.
what's turnover like after a couple years? seems like a tough gig
Why is turnover so high? Wouldn't it make sense to have a culture of retention so that it minimizes constant re-training, etc.
Probably no upward mobility.
If you’re there, you’ve spent the last 4-5 years at the absolute most impressive firms in the industry. If you need more training beyond that, it was a mistake to hire you.
This is an elite hedge fund. There is no ‘training’. They hire what they believe to be the smartest most hardest working most motivated people in the world. You learn by doing and by watching. And you do that at a rate that makes it look like it’s something you’ve always known.
You show up on the job, figure it out, and train yourself. If you show up and don’t measure up to that standard, you’re evacuated out of the firm like a violent bowel movement.
do you still think they're a notch below tiger and LP? from what i've seen, coatue's outperformed both in recent years. better 2020 / 2021 / 2022 YTD
Not a notch below bc of performance. A notch below bc of churn and value/scarcity of getting a seat there. And yes, by a mile.
I interviewed with Philippe back in the day. He was nice to me. But the guys underneath him were real assholes. Clearly, I did not get the job.
I've run into ppl who've worked at Coatue (HF side) and heard that Phillipe has 3 main lieutenants. If you aren't one of the 3 main guys, you are totally disposable. If a scapegoat is needed, that's what associates are for.... The offset is the pay is top of the street.
I'm sure this varies, but how much can a MD or SMD (titles I see on LinkedIn) get paid in a good year?
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